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News  ›  Benzinga

Why Is Small-Cap Q32 Bio Stock Soaring On Monday?

Benzinga Logo Benzinga By Vandana Singh
Why Is Small-Cap Q32 Bio Stock Soaring On Monday?

Q32 Bio sold its Phase 2 complement inhibitor ADX-097 to Akebia Therapeutics for $12 million in upfront payments, with potential milestone payments up to $592 million, causing its stock to surge by over 115%.

Insights
BACpB   neutral

Mentioned as lowering price target for D.R. Horton, indicating cautious market outlook


QTTB   positive

Received significant upfront payment, retained rights to other assets, and stock price increased dramatically after the deal